Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) has received a consensus rating of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $127.80.

A number of equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Monday. Barclays reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, November 16th. ValuEngine downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Finally, TheStreet downgraded shares of Canadian Imperial Bank of Commerce from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th.

Several hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its position in shares of Canadian Imperial Bank of Commerce by 16.4% during the 2nd quarter. Morgan Stanley now owns 551,597 shares of the bank’s stock worth $47,944,000 after purchasing an additional 77,880 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $2,869,000. CIBC Asset Management Inc raised its position in shares of Canadian Imperial Bank of Commerce by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 8,155,008 shares of the bank’s stock worth $763,544,000 after purchasing an additional 74,041 shares during the last quarter. AMP Capital Investors Ltd raised its position in shares of Canadian Imperial Bank of Commerce by 7.8% during the 2nd quarter. AMP Capital Investors Ltd now owns 155,792 shares of the bank’s stock worth $13,544,000 after purchasing an additional 11,245 shares during the last quarter. Finally, First Bank & Trust raised its position in shares of Canadian Imperial Bank of Commerce by 12.0% during the 2nd quarter. First Bank & Trust now owns 13,957 shares of the bank’s stock worth $1,213,000 after purchasing an additional 1,494 shares during the last quarter. Institutional investors own 46.36% of the company’s stock.

Shares of NYSE:CM opened at $85.74 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $37.23 billion, a P/E ratio of 8.91, a PEG ratio of 1.57 and a beta of 1.18. Canadian Imperial Bank of Commerce has a 52 week low of $84.03 and a 52 week high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 23rd. The bank reported $3.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.86. The firm had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.39 billion. Canadian Imperial Bank of Commerce had a net margin of 21.27% and a return on equity of 17.77%. During the same quarter last year, the firm earned $2.77 earnings per share. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 9.32 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Friday, September 28th were given a dividend of $1.0412 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 4.86%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. The ex-dividend date was Thursday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 46.91%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Analyst Recommendations for Canadian Imperial Bank of Commerce (NYSE:CM)

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